Albania

IsDB Group Expresses Solidarity with and Support for Albania’s Quake Survivors

Underlining support for the Government and People of Albania, the Islamic Development Bank (IsDB) Group represented by Regional Hub Turkey (RHT)’s Tolga Yakar, expresses readiness to provide, in the next 5 years, up to USD 365 million of investment financing loans for feasible projects and programs in sectors such as health, education, social housing, infrastructure, etc.

Brussels, Belgium, 17 February 2020 – The Islamic Development Bank (IsDB) Group was amongst the multitudes of high-profile dignitaries and international organizations that attended the International Donors Conference dubbed “Together 4 Albania” in the Belgian capital city of Brussels.

The conference was held in solidarity with Albania in the wake of a devastating 6.3 magnitude earthquake which jolted the country on 26 November 2019 affecting more than 200,000 people directly and indirectly, leaving 51 fatalities, 913 injuries and 17,000 displaced. 

The Prime Minister of Albania, H.E. Edi Rama, and European Commission President, Ursula Von Der Leyen, were amongst key note speakers at the conference who, in their speeches, thanked the participants and underlined the participation at the event as a strong response to the dire need on the ground to continue to mobilize and support the reconstruction drive in the quake-hit country.

Underlining support for the Government and people of Albania, the IsDB Group represented by Regional Hub Turkey (RHT)’s Tolga Yakar, expressed readiness to provide, in the next 5 years, up to USD 365 million of investment financing loans for feasible projects and programs in sectors such as health, education, social housing, infrastructure, etc.

Representatives from the World Bank Group, the European Investment Bank, the European Bank for Reconstruction and Development, the Council of Europe Development Bank, as well as several UN related institutions were present at the event also attended by EU member countries and institutions.

During the event, the international community pledged nearly EUR 1.15 billion of support for Albania’s long-term recovery with the five International Financing Institutions vowing EUR 300 million and USD 515 million.

The quake has left nearly EUR 1 billion of damage in its trail where more than 95,000 housing units are in need of repair or reconstruction.